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Boulder Inventory Analysis: 1Q06
If you're thinking about buying or selling in Boulder this year, it's important to get a handle on the market. Here's how it's shaping up by price point.
In the first four charts below, I've broken out homes in Boulder currently under contract (green) from available home inventory(blue) and compared it to sales in the first quarter of this year(orange).
The last two charts lay out Boulder's home inventory by asking price to illustrate the distribution of homes available (the majority of homes on the market are valued under $1MM). Note, the last chart uses a logarithmic scale and all calculations are based on data available on 4/09/2006.
If you'd like to discuss how the current market might affect your buying or selling strategy, feel free to call me at 303.746.6896. You can also contact me via our website.
Tags:Boulder, Colorado, Real Estate, Boulder Real Estate, Inventory, Analysis, Market Analysis.
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8 Comments:
These charts are strange comparisons.
Why not just plot Median vs Time?
Inventory vs Time?
DOM vs Time?
Break those down by price range if you wish, but its near impossible to make meaningful comparisons with the 1 axis plots shown here.
I'm not sure I'd call these comparisons "strange," but yes Time based comparisons are very useful.
I can only work with the data that's currently available. At the moment, I don't have apples to apples inventory numbers yet for March. Here's Boulder's inventory of homes through February plotted against time.
Here's Days to Offer plotted against time.
Note: Different data sources. When BARA publishes their stats, I'll updated the charts.
By the way, look to the next post for DOM vs Time using the current dataset.
Thanks for the explanation. One last question: In the next post, you show "Homes sold in Boulder" for months Dec, Jan, Feb, and March.
Is there really a 20% drop in homes sold in March between Mar 05 and Mar 06?
22.5% drop, actually.
However, if you're a buyer or seller - breakdown by price point is much more meaningful information.
As I noted in the post, the market for homes valued $300 to $500K looks pretty healthy. For every home sold in 1Q06, there is one or fewer homes currently on the market (~1:1 ratio).
Compare that to homes valued at $1.2 to $1.3M. For every home sold in the first quarter, there are over six available (~1:6 ratio)
My experience is that buyers of $1MM+ luxury homes have greater flexibility, so perhaps the price range should be increased. Let's look at $1 to 1.5MM. There were 12 homes sold in 1Q06 and 43 homes currently available (~1:4 ratio).
Take home message? There is greater demand at the lower end of Boulder's price spectrum and, in my opinion, it remains a seller's market (for now). The high end is the opposite.
You know, I was just a little slow on the uptake. I finally figured out that your single axis graphs are price vs. Excel line number. The first is sorted by price (linear) and the second is unsorted price (log). These are interesting plots, and is similar to cumulative distribution. (I'd suggest sorting the log plot in the future tho, and maybe put a label of "1 point per house". You might help the comprehension of those in need of more coffee.)
As I noted in the post, the market for homes valued $300 to $500K looks pretty healthy.
So which segment is most responsible for the 22% drop in sales?
Thanks for the interesting data.
You're welcome.
So which segment is most responsible for the 22% drop in sales?
Good question. Here's a response .
Ok, the data is now available. I've posted the new inventory numbers for March 06.
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